Cash vs Credit Cards

Cash Vs Credit Cards

There is an old adage: “cash is king”; and in many ways this is still true despite all of the advances in payment technology over the years.

The average Singaporean holds multiple credit cards so it may seem like credit cards have completely taken over; however there is still very much a place for cash in your lives and there are times when using it is most appropriate. Let’s examine some of the factors which may influence whether or not you choose to pay with cash or credit.

Using Cash

Cash is useful if you have an allowance for small daily expenses like food and drink; it’s easier to know how much you have spent if you set yourself a daily cash limit rather than just putting it on the credit card. You can also be assured that every retailer will accept a cash payment, but some will not, especially smaller, more niche outlets.



Using cash for daily expenses such as food may make more sense, especially if the amount is small. While you may find many cashless payment methods in Singapore nowadays, many small-time retailers and food outlets like Toast Box, Prima Deli and food courts still rely mostly on cash transactions.

Cash is also useful for tourists; often there are fees associated with using your credit card abroad, and if you are in Singapore on holiday you might not know when you will next be able to get cash out or if your card will be accepted. It pays to get cash out from a money changer in these circumstances – get as much as you feel comfortable with rather than relying on credit.


Credit Card

Credit card payment is certainly less hassle than cash; you don’t have to carry around lots of notes and coins in your wallet and with the advent of contactless technology this payment method is even quicker nowadays.

Credit cards often allow you to collect points which add up to gifts, cashback and prizes; you can therefore get more bang for your buck!

Just do be careful about letting your spending run away with you; it’s easy to forget what you’ve bought on credit and it can soon mount up.


Here is a List of Top 10 Money changers in Singapore.

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